Daily Bullion Report for the Day of 30th Aug 2024

Fundamentals for the Day

6.00 pm Core PCE Price Index m/m

Personal Income & Spending m/m

7.30 pm Chicago PMI

Revised Consumer Sentiment & Inflation Expectations

Yesterday, also Gold has move till 72249 & today morning 71850 arrive.
Yesterday Gold open interest increase by 13,651 from 5,21,788 to 5,35,439 which seems little fishy that's why we move as per the resistance point with secured by stop loss of range
Positional Trader will look into sell gold from 72250 for target 70350 with maintain the SL only above 72450+

Gold

Range: 72250 - 71150

Our Preference: Sell Gold 72250 target 71500 & 71150 with SL 72400+ only if sustain

Alternative Scenario: Buy Gold 72470+ target 72950 with SL 150 point

Silver

Range: 86114 - 83550

Our Preference: Sell Silver @ 85450 for target 83550 with SL 300 point

Alternative Scenario: Sell Silver @ 86114 with back up sell 86527 for target 83550 with SL 300 point

Trading Zone

83550 Buy Silver with SL 300 point for target 900 point

84910 Sell Silver @ 1st stroke with SL 150 point

Pricing

Online transfer
Cash
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Bank: IDBI Name: Tradeline A/c: 0130102000030612 IFSC: IBKL0000130 Account type: Current